Star, Carnival Declare Victory In NCL Matter

Friday, February 11, 2000
Star Cruises and Carnival Corp. declared victory in a takeover bid for Norwegian cruise group NCL Holding, saying they controlled more than 90 percent of the shares. Arrasas Ltd., 60 percent owned by Star and 40 percent by Carnival, said it controlled 247.88 million shares, or 92.6 percent, of NCL under the $1.9 billion stock and debt takeover offer. Under Norwegian law, firms can force minority shareholders to accept a takeover offer by surpassing 90 percent control. Star and Carnival, the world's biggest cruise group, joined forces last month behind a 35 crowns per share offer for NCL. Carnival had previously launched a bidding battle in December by offering 30 crowns per share for NCL on its own. Star, which is strong in Asia and is the world's fifth largest cruise group, also aims to set up a joint marketing deal with Carnival, strongest in the United States and Europe. NCL is fourth biggest. The Star-Carnival offer expired on February 10. The two companies last week sacked the board of NCL and appointed a new leadership, headed by Oslo lawyer Ole Lund who is also chairman of state oil firm Statoil.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Homeland Security Secretary Visits Ingalls Shipbuilding

Huntington Ingalls Industries' Ingalls Shipbuilding division apprises it has hosted a visit by Secretary of Homeland Security Secretary Jeh Johnson and U.S. Rep.

Deal to Build Russian 60MW Icebreakers Imminent

The state nuclear power company Rosatom is about to reach a deal with United Shipbuidling Corporation on the construction of two powerful LK-60 icebreakers according to Barents Observer.

Cruise Ship Trends

China Homeport for Latest Giant RCI Cruise Ship

Royal Caribbean International says that its latest cruise ship, 'Quantum of the Seas', will make its home port in Shanghai (Baoshan), China The ship will reposition to China in May 2015,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Cruise Industry Disappointed by Findings of Critical LMU Report

New research by the UK's Leeds Metropolitan University (LMU) claims the cruise industry is ignoring its responsibility to the environments and societies it visits.

 
 
Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0954 sec (10 req/sec)